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> Economy

Elon Musk terminates $44 bln Twitter deal

Musk's lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform

Newsroom July 9 12:47

Tesla Inc Chief Executive Officer Elon Musk said on Friday he was terminating his $44 billion deal for Twitter Inc, saying that the social media company had failed to provide information about fake accounts on the platform.

Shares of Twitter fell 6% in extended trading.

In a filing, Musk’s lawyers said Twitter had failed or refused to respond to multiple requests for information on fake or spam accounts on the platform, which is fundamental to the company’s business performance.

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